A foreign currency influx that has reached $40 billion since the Justice and Development Party (AKP) came to power in 2002 tends to reach record levels prior to the elections. This inflow, which the Central Bank has not explained, is now $4.3 billion in the lead-up to the June 7 elections, prompting questions as to whether the AKP is getting election support from abroad.
In the balance of payments to Turkey, it is believed that unreported funds kept abroad amount to $130 billion. The AKP government in 2008 and 2013 passed legislation declaring amnesty for these unreported funds kept abroad to be brought back to Turkey with very low taxation and no questions asked. Despite the amnesties, unreported money brought back to Turkey and registered remained at very low levels.
This is why the surge of the transfer of funds from unidentified sources just before elections adds credence to claims that this is money to give election support to the AKP.
In 2011, before the general elections, the amount in the net errors-omissions account had reached an annual total of $9.4 billion, the highest until then.
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